Experian, another information services group, was tasked with compiling a nationally representative panel of credit information on consumers from a national database of credit files. What does this consist of? Who gets it? What do they do with it? The panel will include the contents of 5 million consumer accounts along with their credit score, age, postal code, and date of birth; contain approximately 10 years’ worth of individual consumer information and will add new credit files from the CFPB’s expanding nationwide database. The Experian contract stated the information is being used in a “wide variety of research policy projects.” It was also revealed that contractors may be required by the CFPB to share credit card data collected from banks with one or more “unspecified” federal agencies. Tom Fitton, president of Judicial Watch, voiced concern over this data mining, citing financial waste, lessened security for the data and the potential for a contractor “running off with the data.” Read more: freedomoutpost/2013/06/consumer-financial-protection-bureau-collected-your-data-shared-it-while-you-were-distracted/#ixzz2XhkMefVw
Posted on: Sun, 30 Jun 2013 13:08:34 +0000
Trending Topics
Recently Viewed Topics
© 2015